In my opinion it could still take a while for such a formation to play out,
if it does then clearly, we have something which resembles an inverted head and shoulders pattern, which is quite a powerful reversal indicator. on the other hand it could fail, at the right shoulder and at the break out from the neck line also.
as the right shoulder starts to form, you can look for other bullish patterns to form on lower time frames to 'start' trading in order to build a larger position, ending with your last portion of the position as the entry on the break out of the neckline.
this is a big move which requires lots of patience and discipline. naturally for such a move I would want to be as fully invested as possible (100% of available funds) to ride the big trend over a few months, then possible compound some of the returns for even bigger gains.
This is how the big money is made, I can see it now, the government start taking credit for the economy's recovery, their plan to save the world worked with their excess borrowing, they are so pround of themselves, if only for just a little while, but this could only be a natural rally on a large scale and help rid the country of this labour government when it collapses again and their plan proves to be just a fad.
all in time for the next election......
but who knows, my guess is as good as the next persons.....:smart:
